Reporter Cho Sang-rok of Hello Tea |
LG Energy Solutions will establish a joint venture for electric vehicle batteries with Stellantis and accelerate its penetration into the North American electric vehicle market.
In this regard, LG Energy Solutions announced that it had signed a memorandum of understanding (MOU) with Stellantis to establish a joint venture for electric vehicle batteries with an annual production capacity of 40GWh of electric vehicle battery cells and modules in North America.
The factory site is under final review with a strong candidate site in North America, and construction is scheduled to begin in the second quarter of next year and production is scheduled for the first quarter of 2024. The batteries produced by the joint venture will be supplied to the Stellantis plants in the United States, Canada and Mexico, and will be installed in the next-generation electric vehicles of the Stellantis brand.
Stellantis was launched in January this year through the merger of Fiat Chrysler (FCA), a joint venture between Italy and the United States, and Peugeot Citroen (PSA), a French automaker. Euro) has been announced.
With the establishment of this joint venture, Stellantis has stably secured competitive batteries in its electrification strategy, and LG Energy Solutions has once again proved its differentiated technology and mass production capabilities.
In particular, the partnership between the two companies has been further consolidated, starting with LG Energy Solution’s order for the Chrysler Pacifica battery in ’14.
Carlos Tavares, CEO of Stellantis, said, “The announcement of the joint venture is proof that we are accelerating our efforts for electrification and are fulfilling the promises made at ‘EV Day’ in July. Together, we will lead the industry with an electric vehicle with efficiency and passion that will become a new standard.”
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